JAKARTA - The Ministry of State-Owned Enterprises (BUMN) noted that several state-owned companies will take the floor to the Indonesia Stock Exchange soon. Minister Erick Thohir has set a target of at least 10 companies to conduct Initial Public Offering (IPO) until 2023. This is motivated by the belief that the market value in the capital market is high.
"God willing, until 2023, we will go public with a minimum of 10 BUMN, and the market is very large", said Erick at the launch of the BUMN IDX-MES Index 17 Thursday, April 29.
Based on data from the Ministry of BUMN, 14 BUMN companies and BUMN subsidiaries from various clusters will immediately enter the stock through the initial public offering mechanism.
It is recorded that there are five subsidiaries of PT Pertamina (Persero) that will conduct IO. Meanwhile, PT Telkom Indonesia (Persero) will list the shares of its two subsidiaries. In the health cluster, there is the parent holding company of pharmaceutical BUMN, PT Bio Farma (Persero) which will also take the floor in the Indonesian primary market. Then Indonesia Healthcare Corporation or PT Pertamina Bina Medika (Persero).
Not only that, there are state-owned enterprises in the banking, agriculture, and mining sectors. IPO plans for BUMN and its subsidiaries. The BUMN and its subsidiaries that are listed on the IDX include:
Pertamina's Subsidiaries:
1. PT Pertamina International Shipping (Persero)
2. PT Pertamina Geothermal Energi (Persero)
3. PT Pertamina Hulu Energi (Persero)
4. PT Pembamgkut Steam Power (Persero)
5. PT Pertamina Hilir (Persero)
Health Sector:
1. PT Indonesia Healthcare Corporation (Persero)
2. PT Bio Farma (Persero)
Banking, Agriculture, Telecommunication and Mining Sector:
1. PT EDC and Payment Gateway (Persero)
2. PT Pupuk Kalimantan Timur (Persero)
3. PT PT Dayamitra Telekomunikasi or Mitratel (Persero)
4. PT Telkom Data Center (Persero)
5. PT Inalum Operating (Persero)
6. PT MIND ID (Persero)
7. PT Logam Mulia (Persero)
Not only that, Erick is targeting Mitratel and Pertamina Geothermal Energy to conduct an IPO this year. In aggregate this corporate action will be carried out until the next 2023.
IPO aims to be able to compete
Erick Thohir explained that the target of 10 to 15 BUMNs is ready to go public or become a public company, the goal is to be able to compete, especially in the era of digitalization.
"We really want to go public 10-15 BUMNs that can fight in the competition openly because the era is now open, especially with digitalization, the era is unstoppable", he said in a central development coordination meeting 2021 which was broadcast virtually, Friday, April 29.
Several companies that are included in the Association of State-Owned Banks are in the top 10 banking industry in Indonesia. Erick said, the BUMN could sustain in the Himbara cluster or telecommunications where the market was open. Although there are private and foreign companies, BUMN is still strong.
Furthermore, Erick said that each BUMN has its own business strategy to be able to compete, such as PT Bank Mandiri (Persero) Tbk which has gone public focusing on corporations.
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